Singapore recorded a 579 percent rise in AML and CFT fines issued by the central bank last year. The sharp increase reflects a shift in regulatory scrutiny after a major money laundering scandal exposed weaknesses in parts of the financial system. New data from regtech firm Fenergo shows that global penalties for breaches of anti-money laundering, know your customer, sanctions and customer due diligence rules fell 18 percent in 2025 to US$3.8 billion. This compares with US$4.6 billion in 2024 and US$6.6 billion in 2023. Despite the overall decline, enforcement activity varied widely by region. North American regulators reduced the total value of fines by 58 percent, while Europe, the Middle East and Africa saw penalties climb 767 percent. Asia-Pacific also recorded higher fines, up 44 percent, as long-running investigations concluded and authorities increased oversight in targeted sectors. In Singapore, the Monetary Authority of Singapore focused more attention on private banking and cross-border wealth flows following the high-profile laundering case. Rory Doyle “In Singapore, enforcement action has intensified following a major money laundering scandal. In response, the Monetary Authority of Singapore (MAS) has tightened its focus on private banking and cross-border wealth flows, with a clear aim of positioning the city-state as a global leader in source of wealth (SOW) and source of funds (SOF) enforcement.” said Rory Doyle, Head of Financial Crime Policy at Fenergo. The largest individual penalty in 2025 was a €835 million fine, equivalent to about US$985 million, issued by French authorities to a Swiss bank for anti-money laundering failures. That helped make France the second-largest global enforcer by fine value, behind the United States. The report also found that digital asset firms remained overrepresented among the largest penalties, accounting for nearly a quarter of the top ten fines. Fenergo said rapid growth in transaction volumes and stablecoin usage has continued to outpace compliance maturity in parts of the sector, prompting regulators to push firms to adopt controls closer to bank standards.     Featured image: Edited by Fintech News Singapore, based on image by aghavni001 via Freepik The post Singapore Records 579% Rise in AML and CFT Fines as Enforcement Intensifies appeared first on Fintech Singapore.

Thailand’s Securities and Exchange Commission (SEC) has filed criminal complaints against five individuals for allegedly running unlicensed Worldcoin trading services. The cases were lodged with the Economic Crime Suppression Division after the regulator found that the individuals engaged, or jointly engaged, in offering Worldcoin trades. The SEC said they also shared related information in Thai through social media and presented themselves as operating a digital asset dealing business outside digital asset exchanges. Those named are Sarida Jittaueafuea, Mongkol Chantarach, Piyamat Notee, Natcha Rungkassattra, formerly known as Thidarat Rungkassattra, and Taksaporn Kajornpap. The SEC said the conduct breaches Section 26 of the Emergency Decree on Digital Asset Businesses 2018 in conjunction with Section 83 of the Criminal Code and is punishable under Section 66 of the decree. The matter will proceed through investigation by inquiry officials, prosecution by the public prosecutor and adjudication by the courts. The SEC said it will monitor the proceedings and work with relevant agencies to support enforcement. The regulator warned that users of unlicensed digital asset services are not protected under the law and may face risks including fraud, scams and misuse of funds for money laundering. Investors can verify licensed digital asset businesses on the SEC website or through the SEC Check First application. The Investor Alert section lists individuals or entities not regulated by the SEC, while suspicious activity can be reported via the SEC Complaint Center hotline 1207 or the regulator’s official online channels.     Featured image: Edited by Fintech News Singapore, based on image by Freepik   The post Thai SEC Files Criminal Complaints Over Unlicensed Worldcoin Trading appeared first on Fintech Singapore.

Rokid is integrating payment features into its smart glasses through a partnership with Ant International, which will enable hands-free transactions at checkout. The company said the capability will be rolled out on Rokid Glasses and Rokid AI Glasses Style, which was unveiled at CES 2026. Payments will run on Alipay+ GlassPay, an embedded solution from Ant International that connects supported digital wallets through the Alipay+ platform. Users will be able to start and confirm purchases through the glasses using voice interaction, intent-based commands, camera-based code scanning and biometric authentication, without switching to a smartphone. The feature is aimed at in-store purchases, travel spending and cross-border payments. Alipay+ links more than 1.8 billion user accounts across over 40 mobile payment providers with more than 150 million merchants in over 100 markets, allowing consumers to pay overseas and access digital services through their preferred wallets. Rokid said it plans to expand applications for its AI and AR glasses through further partnerships across payments and related services.   The post Rokid Prepares Rollout of Alipay+ Payments for Smart Glasses appeared first on Fintech Singapore.

Google has launched a new open standard to support agent-led shopping across search and chat platforms as Ant International joins the initiative. The Universal Commerce Protocol is designed to let AI agents, retailers and commerce systems work together across the shopping journey. It aims to reduce the need for custom integrations across discovery, checkout and post-purchase support. It is compatible with existing standards including Agent2Agent, Agent Payments Protocol and Model Context Protocol. The protocol was developed with companies such as Shopify, Etsy, Wayfair, Target and Walmart, and has been endorsed by more than 20 others including Visa, Mastercard, Stripe, Adyen, The Home Depot, Best Buy, Flipkart, Macy’s and American Express. Support of the Universal Commerce Protocol from across the ecosystem. Jiang-Ming Yang “Ant International is thrilled to deepen our collaboration with Google and support the Agentic Commerce ecosystem. By leveraging our leading payment capabilities, Ant International is creating unique agentic commerce solutions for merchants by delivering merchant friendly, seamless user experience and end-to-end trust, ultimately driving business growth,” said Jiang-Ming Yang, Chief Innovation Officer, Ant International. Google said the protocol will enable a new checkout experience on eligible product listings in AI Mode in Search and the Gemini app in the United States. Shoppers will be able to complete purchases using Google Pay with payment and delivery details stored in Google Wallet, with PayPal support expected later. https://fintechnews.sg/wp-content/uploads/2026/01/checkout-feature.mp4 Retailers will remain the seller of record and can tailor the integration to their systems. Ashish Gupta “For agentic commerce to scale, it’s critical for the industry to align on a common set of standards. We are proud to have Ant International endorse the Universal Commerce Protocol as the foundation for that future,” said Ashish Gupta, VP/GM, Merchant Shopping, Google. Google is also launching Business Agent, a branded AI assistant that allows shoppers to interact with retailers through Search. The feature is going live in the United States with Lowe’s, Michael’s, Poshmark and Reebok, and can be managed through Merchant Center. In addition, Google is adding new data attributes in Merchant Center to improve product discovery across conversational shopping surfaces such as AI Mode, Gemini and Business Agent. Google is also testing a new advertising format called Direct Offers, which allows advertisers to present discounts within AI Mode when a shopper is deemed ready to buy. The pilot currently focuses on price discounts, with plans to expand to bundles and free shipping.     Featured image: Edited by Fintech News Singapore, based on image by ilygraphic via Freepik The post Google Introduces New Protocol to Standardise Agentic Shopping appeared first on Fintech Singapore.

Companies seeking a simultaneous listing on SGX and Nasdaq may soon face fewer regulatory hurdles under proposals that the Monetary Authority of Singapore (MAS) is consulting on. MAS has opened a public consultation on amendments to the Securities and Futures Act 2001 and related draft regulations. The changes are intended to support the upcoming Global Listing Board, announced in November to enable dual listings on SGX and Nasdaq for companies with a market capitalisation of S$2 billion and above. The proposals would allow issuers to use a single prospectus for offerings in Singapore and the United States by requiring the local document to include information already required for US listings. MAS is also proposing to shorten the registration process in Singapore to better align IPO timelines in both markets. The draft regulations introduce safe harbour provisions reflecting US market practices, covering forward-looking statements, share buybacks and pre-determined trades, subject to specific conditions. These provisions do not provide a defence in cases involving fraud or dishonesty. MAS said the amendments would give it flexibility to extend a similar framework to other jurisdictions if their disclosure standards are aligned with international benchmarks set by the International Organization of Securities Commissions. The regulator is also proposing to let issuers engage retail investors earlier in the IPO process to support bookbuilding and give investors more time to assess offerings. For Global Listing Board issuers, this would allow retail engagement in Singapore and the United States to take place at the same time. MAS and SGX will make the final decision on all listings and prospectus registrations. The regulator said it will continue to work with relevant authorities to act against disclosure breaches and market misconduct in Singapore. SGX RegCo has issued a separate consultation on the Global Listing Board listing rules. Feedback on both consultations can be submitted via FormSG by 8 February 2026.     Featured image: Edited by Fintech News Singapore/Malaysia, based on image by MAS The post MAS Proposes Regulatory Changes to Simplify SGX-Nasdaq Dual Listings appeared first on Fintech Singapore.

MariBank now offers physical gold investing from S$1 through its new Mari Invest Gold product. The service gives customers access to the LionGlobal Singapore Physical Gold Fund via a new unit class exclusive to MariBank users. According to MariBank, it is the first digital bank in Singapore to offer access to a physical gold fund. The product is offered through Class MariBank SGD Hedged (Acc) and is managed by Lion Global Investors. Standard Chartered Bank Singapore serves as the fund’s custodian and ensures the secure storage of the physical gold holdings. The fund invests in physical gold bars with a minimum purity of 99.5 percent that are stored in secure vaults in Singapore and tracks the London Bullion Market Association Gold Price AM benchmark. Mari Invest Gold adds to MariBank’s Mari Invest range launched in 2023, which also includes Mari Invest SavePlus and Mari Invest Income. The bank said around 30 percent of its customers have taken up at least one investment product. Both Mari Invest SavePlus and Mari Invest Income have recorded steady growth in user sign-ups and investment amounts. Natalia Goh “MariBank continues to identify new ways to meet our customers’ evolving financial needs. Our latest partnership with Lion Global Investors to launch Mari Invest Gold extends the timeless appeal of gold to a new generation of digital investors. Together with Mari Invest SavePlus and Mari Invest Income, they form a comprehensive suite of investment products designed for everyone— from first timers to experienced investors,” said Natalia Goh, Chief Executive Officer of MariBank.     Featured image: Edited by Fintech News Singapore, based on image by RSplaneta via Freepik   The post MariBank Launches Physical Gold Investment Option From S$1 appeared first on Fintech Singapore.

Though cash remains the dominant payment method for tourists in Thailand, cashless options are gaining traction due to their convenience, accessibility, and flexibility, according to a new paper by the Bank of Thailand (BOT) and Visa Thailand. Released in December 2025, the paper shares key insights into the payment trends of international tourists in Thailand. It highlights the growing adoption of cashless transactions, emphasizing the rapid rise of inbound cross-border QR payment. Cross-border QR payment, a relatively recent addition to Thailand’s payment landscape, was first introduced in 2018 through linkage with Japan before expanding to other countries across Asia-Pacific (APAC), including most of Southeast Asia’s biggest economies, and Hong Kong. Mainland China joined most recently in October 2025, through linkages with the country’s card payment network UnionPay, as well as fintech platforms Alipay and WeChat Pay. This payment method relies on linking PromptPay, Thailand’s real-time retail payment system, with those of partner countries. It allows a foreign visitor to scan a Thai merchant’s PromptPay QR code to initiate a payment through the user’s home banking or e-wallet app. The fund is then automatically converted from the payer’s currency to the merchant’s local currency using agreed foreign exchange (FX) rates, and the transaction is settled through linked banks and central bank-supported clearing arrangements. Overview of Thailand’s cross-border payment linkages, Source: Bank of Thailand, Dec 2025 In Thailand, cross-border QR payments have seen strong adoption. In 2024, inbound cross-border QR payments totaled nearly THB 2.5 billion (US$80 million). This figure is particularly noteworthy considering that countries with QR payment linkages accounted for only 29% of Thailand’s total tourist arrivals, underscoring both the strong adoption rate and growth potential of this payment method among international visitors. Among the nine countries whose residents can use domestic payment systems for QR payments in Thailand, Malaysian tourists were the largest users in 2024, accounting for 44% of all inbound cross-border QR payments by value. Indonesia followed with a 15%, Laos with 11%, and Cambodia and Hong Kong with 9% each. Inbound cross-border QR payment breakdown by countries (Y2024, % value), Source: Data-Driven Insights into Tourist Payment Behaviours, Bank of Thailand and Visa Thailand, Dec 2025 E-money was another popular payment method among tourists coming to Thailand in 2024, reaching a transaction value of THB 34 billion (US$1.1 billion). However, this market remained concentrated among a few key players primarily serving Chinese tourists, presenting both challenges and opportunities for e-money providers. Card payments also continued to grow significantly. In 2024, card transactions reached a new record of THB 327 billion (US$10 billion) in value and recorded 100 million transactions, marking a 19% YoY increase in value and a 22% YoY increase in volume. Inbound cards payment value and number of transactions, Y2019-2024, billion THB and million transactions, Source: Data-Driven Insights into Tourist Payment Behaviours, Bank of Thailand and Visa Thailand, Dec 2025 The paper also looks at payment preferences by the country tourists come from, and found that Malaysians, Indians, and South Koreans have a strong preference for card payments. An analysis of Visa card usage among South Korean tourists revealed a clear inclination toward card payments over cash withdrawals. In 2024, 95% of Visa cardholders from South Korea used their cards primarily for payments in Thailand. Only a small segment, 2%, solely used their cards for cash withdrawals, while 3% utilized them for both card payments and withdrawals. Similarly, 87% of Malaysian cardholders used their cards exclusively for purchases in 2024, while 13% made cash withdrawals either exclusively or alongside card payments. Indian tourists displayed comparable behavior, with 71% of accounts utilizing their Visa cards exclusively for payments, while 14% relied on their card solely for cash withdrawals. Cash remains top payment method Though cashless transactions are growing in prominence among tourists visiting Thailand, cash remains the top payment method. In 2024, tourists withdrew THB 160 billion (US$5.1 billion) from local ATMs, while THB 1,107 billion (US$35 billion) worth of foreign currencies was exchanged within Thailand and overseas prior to arrivals. These figures gave cash a share of 78% of total transaction value by tourists visiting the country in 2024, positioning it as the unrivaled leading payment method for foreign visitors, far ahead of cards (20%), e-money (2%), and cross-border QR payments (0.2%). These findings highlight the continued reliance on cash likely due to its widespread acceptance and the limited availability of digital payment options among small businesses across Thailand. Payment methods among tourists in Thailand, Source: Data-Driven Insights into Tourist Payment Behaviours, Bank of Thailand and Visa Thailand, Dec 2025 Thailand’s tourism industry has made a remarkable recovery since COVID-19. In 2024, the country welcomed 35.5 million international tourists. Although this figure remains below pre-pandemic levels, it represents nevertheless more than a threefold increase compared to 2022. In 2024, tourism generated revenue of THB 1.7 trillion (US$54.2 billion), contributing approximately 9% of the overall country’s GDP. Number of international tourists in Thailand, Source: Data-Driven Insights into Tourist Payment Behaviours, Bank of Thailand and Visa Thailand, Dec 2025   Featured image: Edited by Fintech News Singapore, based on images by Frolopiaton Palm, EyeEm and pakorn1981 via Freepik The post Top Payment Trends Among Tourists Visiting Thailand appeared first on Fintech Singapore.